Baby Boomers starting own businesses

MINNEAPOLIS -- Are you 55 or over and getting close to retiring? And now beginning to wonder how you are going to generate continued income for many years to come?

Especially important since we are living longer these days. (U.S. expectancy in 2011 was 78.7 years) And will probably need the continued income to live comfortably and bill the bills.

For many, the answer is pretty simple-keep on working, have a second act, and start your own business. You will be in good company.

A study by the Ewing Marion Kauffman Foundation reported that the highest rate of entrepreneurial activity is not Gen-Y upstarts, but Baby Boomers in the 55-64 year age group. This has been true, by the way, in every single year from 1996 to 2013.

Last year, for example, businesses started by those ages 55 to 64 accounted for nearly one-quarter of all new businesses started.

*476,000 new business owners were created each month during 2013

Neil Anderson founder of the Courage Group joined us today to discuss some helping pre-launch tips for anyone considering starting off on their own.